CM Q3 2019 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q3 2019 Earnings

Reported July 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$5.3B	—	$4.7B	—	12.1%
Op. Income	$1.3B	—	$1.3B	—	2.1%
Gross Margin	60.6%	—	65.8%	—	-5.2pp
Net Margin	19.1%	—	21.0%	—	-1.9pp
EPS (Diluted)	$1.12	—	$1.10	—	1.3%
Free Cash Flow	$1.8B	—	$1.3B	—	35.9%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$2.1B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$68M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$781M
Operating Expenses	$1.9B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.3B
Interest Income	$3.9B
Interest Expense	$1.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$273M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$997M
D&A	$129M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$2.1B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$68M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$781M
Operating Expenses	$1.9B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.3B
Interest Income	$3.9B
Interest Expense	$1.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$273M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$997M
D&A	$129M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$129M
Stock-Based Compensation	$4M
Deferred Income Tax	$4M
Other Non-Cash Items	$333M
Change in Working Capital	$370M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$39M
Acquisitions (Net)	$0
Purchases of Investments	-$6.9B
Sales/Maturities of Investments	$4.0B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$1.1B
Common Stock Repurchased	$0
Common Dividends Paid	-$447M
Other Financing Activities	$0
NET CASH FROM FINANCING	$858M
FREE CASH FLOW	$1.8B
Net Change in Cash	-$173M

Balance Sheet

Item	Amount
Cash & Equivalents	$12.2B
Short-Term Investments	$32.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$44.3B
PP&E (Net)	$1.3B
Goodwill	$4.1B
Intangible Assets	$1.4B
Long-Term Investments	$357.0B
Tax Assets	$398M
Other Non-Current Assets	$62.4B
TOTAL NON-CURRENT ASSETS	$425.3B
TOTAL ASSETS	$469.5B
Account Payables	$0
Short-Term Debt	$87.6B
Deferred Revenue	$0
Other Current Liabilities	$259.2B
TOTAL CURRENT LIABILITIES	$346.8B
Long-Term Debt	$55.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$39.6B
TOTAL NON-CURRENT LIABILITIES	$95.0B
TOTAL LIABILITIES	$441.8B
Common Stock	$9.9B
Additional Paid-In Capital	$94M
Retained Earnings	$15.0B
Treasury Stock	$0
Accum. Other Comp. Income	$596M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$27.6B
Minority Interest	$133M
TOTAL EQUITY	$27.8B
TOTAL LIABILITIES & EQUITY	$469.5B
Total Debt	$142.9B
Net Debt	$130.7B